Year after Year, Financial Aid U Helps Students Achieve College Success (Video)
This post is part of our week-long series on higher education affordability and accessibility. Check back each day for a new post!
A forthcoming research paper confirms what we’ve known anecdotally for a while: the FAFSA remains a huge barrier to college access for low-income students. With that knowledge, the Citi Foundation and Center for Economic Progress formed the Financial Aid U (FAU) project in 2008.
Initially in Chicago, and now nationwide, the Financial U program has helped more than 8,000 students fill out their FAFSA in the past four years. In 2012 alone, students had access to nearly $30 million in federal and state aid.
The Financial Aid U program has experienced unqualified success: in each year since its inception, FAU programs have served more students.
But its not just enrollment we’re after: as Sean Noble pointed out yesterday, the true advantage – in terms of income and employment rate – comes from the degree.
Because of FAU’s follow up approach, we’re seeing that students are not only able to enroll in college, but the vast majority (90+ percent) of students are staying in college. FAU programs follow up with students to make sure they’re receiving the support they need, including counseling on college budgeting, how to read a financial aid offer, different types of loans, grants, scholarships and more.
The Financial Aid U program will expand even further in 2012-2013. The FAU Training Institute will empower even more programs in more communities to offer the quality FAFSA preparation.
Applications to participate in the FAU Training Institute are available now. Head to the application site to see how your organization can help low-income students achieve college success in 2013!
By Dan Fair, Manager of Communications & Member Relations